In a nutshell, you need to address the three areas of profitability: direct sales, advertising and affiliate marketing.
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We’ve all heard of the many entrepreneurs who made it big thanks to a popular blog; they either used their blog as an extension of an existing business, or started blogging as a side project that ended up earning significant revenue.
Knowing about the free website-building tools out there and the (perceived) ease of starting a blog, you’ve likely given this strategy some thought.
Would a blog actually help you make money, though? Ultimately, the answer revolves around three factors:
1. Monetization. What’s your plan to make money from the blog? You have many options, depending on your audience, intent and other ventures.
2. Traffic. No matter what monetization angle you choose, you’ll need ample traffic to support it. Your blog’s ability to generate that traffic is a significant indicator.
3. Upkeep and longevity. Though your blog will be free for you to create in most cases, it will cost time (and sometimes money) to keep your blog running. Your profitability will depend on what you invest in maintenance and improvement.
Want to know more? Here are the details.
Related: 5 Ways to Build an Audience for Your Blog and 10 Ways to Make Money Once You Have
Monetization
Let’s start with the different ways you can monetize your site:
Lead generation. If you already have a consulting or B2B business, you’ll need leads to close sales. A blog with enough calls to action should direct your readership to your contact page and earn you more appointments, which you can potentially close as sales. With lead generation, your blog will serve as an extension of your business rather than an independent revenue-generating opportunity.
Direct sales. If you have something to sell, a blog can support those sales. For example, you might open a store to sell apparel, crafts or even an ebook. You could then use your blog to provide value to your potential customers, eventually forwarding them to product pages to consider making a purchase.
Advertising. If you have sufficient traffic, you won’t…
